A Little Breathing Room: IRS Extends ACA Reporting Deadline and Good Faith Penalty Relief

The IRS delivered welcome news to employers gearing up to meet the Affordable Care Act’s (“ACA”) information reporting deadlines for the 2016 calendar year. In Notice 2016-70, the IRS extended the deadline to furnish Forms 1095-B and 1095-C to employees.  The new deadlines are provided below.

  Old Distribution Deadline New Distribution Deadline
Form 1095-B (to employees) January 31, 2017 March 2, 2017
Form 1095-C (to employees) January 31, 2017 March 2, 2017

Importantly, the Notice does not extend the deadline for filing Forms with the IRS.  The deadline to file with the IRS remains February 28, 2016 (for paper filings) and March 31, 2017 (for electronic filings). Read More ›

Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform | Tagged , , , , , , , , , , ,

Share this Article:

Final Forms and Instructions for ACA Information Reporting Released

The IRS recently released the final forms and instructions for information reporting under the Affordable Care Act (“ACA”).  The final forms and instructions will be used for reporting in 2016 concerning 2015 coverage.  The final forms and instructions can be accessed below.

Form 1094-B

Form 1095-B

Instructions for Forms 1094-B and 1095-B

Form 1094-C

Form 1095-C

Instructions for Forms 1094-C and 1095-C

The final forms do not contain any significant changes from the prior draft versions.  Both sets of final instructions also remain largely unchanged, but they contain a few important modifications with respect to reporting specific types of coverage.  For example, the final instructions modified the rules for reporting multiemployer plan coverage, COBRA coverage, and HRA coverage. Read More ›

Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform | Tagged , , , ,

Share this Article:

New Draft Instructions Released for ACA Information Reporting

As explained in my previous blog, Code Sections 6055 and 6056, added by the Affordable Care Act (“ACA”), require all employers (even small employers) sponsoring self-funded health plans and large employers to file information returns with the IRS and furnish statements to employees concerning the health coverage offered or provided to these employees and their dependents.  Mandatory reporting begins in 2016 with respect to 2015 coverage. Reporting 2014 coverage in 2015 was voluntary.

On August 6, 2015, the IRS released the 2015 draft instructions for mandatory reporting. The 2015 draft instructions contain several changes from the 2014 instructions for voluntary reporting. Read More ›

Posted in Employee Benefits, Health & Welfare Plans, Health Care Reform | Tagged , , , , , , , ,

Share this Article: